Optimism's Bold Plan: Accelerated Decentralization by 2025 @Optimism 🧵 1/7

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2/ Accelerating Optimism's Decentralization: 

GFXlabs has proposed a three-phase plan to decentralize Optimism governance by summer 2025. The plan aims to transfer control from the Foundation and OP Labs to the governance structure, addressing issues of stagnation and underperformance.

3/ - Phase I: Immediate transfers of OP token contract ownership, governance contract control, and governance fund ownership. - Phase II: Control of Bridge L1 Escrow, sequencer decentralization roadmap, and Law of Chains revision.

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5/ @parseb criticizes the approach, while @lefterisjp and @Tadas express concerns about slow progress and safety. @Gonna.eth and @MattL support a balanced approach, and @katie urges reflection on the Foundation's progress.

6/ The proposal aims to increase transparency and accountability but carries risks of governance mismanagement and technical issues. OP tokenholders are encouraged to participate in the Snapshot petition to voice their opinions.

👉 Learn more at https://app.x23.ai/optimism/discussions/topic/8875/accelerated-decentralization-proposal-for-optimism

4/ - Phase III: Full control of the Optimism protocol by governance bodies and full disclosure of grants by the Foundation. Community reactions are mixed. @jacq appreciates the detailed plan but worries about risks.